Indiana Board of Tax Review relies on listing prices for industrial facility to determine its property tax value

In property tax appeals, the reviewing body frequently faces a "battle of the experts" (usually appraisers).  In 1 General Street, LLC v. Cass County Assessor, Pet. Nos. 09-010-09-1-3-00120 et al. (Jan. 31, 2012) (March 1, 2009 and 2010 assessment dates), the Indiana Board of Tax … [Read more...]

State Tax Developments for Energy & Resources, May 2012

See this update, http://www.faegrebd.com/18500, from my colleague Benjamin A. Blair: State tax laws are constantly in flux, particularly for taxpayers in the energy and resources industries. From the taxability of extraction equipment to revamped energy tax credits, these changes have wide-reaching … [Read more...]

Taxpayer wins battle of dueling dates – Indiana Board of Tax Review finds that date on property tax bill notice (and not the unsworn testimony of deputy treasurer) supports ruling that appeal was timely filed

Regardless of tax type, appeal deadlines are important.  A taxpayer must meet its appeal deadline or risk losing the right to challenge an assessment.  But what happens when the "trigger date" for the appeal deadline is in dispute?  A newly issued decision from the Indiana Board of … [Read more...]

“Bad Advice from my CPA” defense does not work to abate 10% penalty against Sales Tax Delinquency applied by Indiana Department of Revenue

This weekend I came across an article by Robert W. Wood, contributor to Forbes, titled "In a Nation of Computerization and Robotics, Should TurboTax Defense Be Respected?"  See http://onforb.es/LgjsgS.  The article addresses two cases (one involving then-nominated-but-not-yet-confirmed Treasury Secretary … [Read more...]

Seller of Medical Equipment had Standing to bring Sales Tax Refund Claim and was not required to pursue Appeal as a Class Action

Today, the Indiana Tax Court issued an Order denying the Indiana Department of Revenue's motion to dismiss a Taxpayer's appeal challenging the Department's denial of a sales and use tax refund claim.  The Order can be viewed here: http://1.usa.gov/LTJefr.  Taxpayer, Fresenius USA Marketing, Inc. … [Read more...]

The Indy 500 is over, but off the track Indiana supports racing with sales tax exemptions

On Sunday, Dario Franchitti took his third checkered flag at the Brickyard and became the tenth driver to win at least three Indy 500s – a fantastic finish to the "Greatest Spectacle In Racing." Indiana loves racing and supports the business of motor sports in part through sales tax exemptions … [Read more...]